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Payment of BWP 1bn disbursed by De Beers Group as Diamonds for Development Fund transitions to its next phase

The Government of the Republic of Botswana and De Beers Group today announced that De Beers Group has transferred its initial contribution of BWP 1 billion to the Diamond for Development Fund, marking a major milestone in the progress of the Fund and its mandate to support Botswana’s long-term economic diversification.

The disbursement follows the establishment of the Fund’s governance structures, including the appointment of Dr Akinwumi Adesina as the Fund’s Chairperson as well as the appointment and onboarding of the 10-person independent board.

The Diamonds for Development Fund was established through the longstanding partnership between the Government of the Republic of Botswana and De Beers Group to support Botswana’s economic diversification by using diamond wealth to catalyse investment to develop new industries, support enterprise, create employment and strengthen long-term economic resilience.

As part of its stakeholder engagements, the Chairperson and the Board of Directors of the Fund held its first in-country Board meetings in Gaborone in September, during which they held extensive meetings with key stakeholders, including President Duma Boko, Government ministries, business and industry leaders, financial institutions, academia, development partners, and the diplomatic community to share its vision. The Fund’s vision is “to help transform Botswana’s diamonds’ wealth into diversified, productive and sustainable resources for advancing national development and future prosperity of the people of Botswana.” The Fund will “serve as a catalytic investment platform for crowding in significant larger pools of domestic and international capital into Botswana’s economic diversification, productivity, competitiveness, expansion of exports and creation of jobs.”

With its strategic vision and mandate and its full governance systems in place, the Diamonds for Development Fund is now transitioning to its next phase: completing its strategy, business plan and the roll out of its programs in strategic intervention areas.

The initial contribution from De Beers Group provides the financial foundation on which the Diamonds for Development Fund will build through accessing larger pools of private, domestic and international capital.

Honourable Bogolo Kenewendo, Minister of Minerals and Energy said: “The Diamonds for Development Fund is a strategic instrument for advancing Botswana’s economic transformation. It is about finding new ways to convert the value of our diamond resources into long-term prosperity and investing in the industries, enterprises and capabilities that will drive the next phase of our nation’s development. Through the Diamonds for Development Fund, we can create quality jobs, expand opportunities for Batswana and strengthen the foundations of a more diversified and resilient economy. This is about building the future we want for Botswana, leveraging the success of diamonds to create new pathways for growth and shared prosperity.”

Al Cook, De Beers CEO said: “Botswana’s economic progress since independence has benefited from the discovery and recovery of diamonds over many decades. We will continue to invest to ensure the future success of Botswana’s diamond industry. At the same time, we are committed to supporting the Government’s ambitions to diversify their economy. With the Diamonds for Development Fund, we are proud to work with our partners in Government to introduce a new vehicle through which diamond revenues can generate sustainable economic opportunities beyond diamonds. The Diamonds for Development Fund now has both an outstanding Board and significant funding. I am confident that the Diamonds for Development Fund can accelerate Botswana’s future economic growth and act as an example to the world of the responsible development of natural resources”

Dr Akinwumi A. Adesina, Chairperson of the Diamonds for Development Fund, said: “The receipt of the initial contribution marks an important milestone for the Diamonds for Development Fund. The Fund will now move towards implementation. We are excited to get going on our work to support strategic intervention areas to drive economic diversification, industrialisation, export competitiveness and the creation of jobs and prosperity for the people of Botswana.”

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About The Republic of Botswana

Botswana is a peaceful and stable country in the heart of Southern Africa, renowned for its diamonds, spectacular wildlife, rich culture and breath-taking landscapes. In 2026, Botswana celebrates 60 years of independence – its Diamond Jubilee, marking six decades of nation-building, resilience and progress. Since independence in 1966, the country has made significant strides in economic and social development, with diamond revenues contributing to education, healthcare, infrastructure and improved livelihoods. Beyond diamonds, Botswana is a world-class tourism destination, home to the Okavango Delta, Chobe National Park, Central Kalahari Game Reserve and Makgadikgadi Pans, offering unforgettable wildlife and safari experiences. The country is also celebrated for its rich cultural heritage, warm hospitality and strong traditions, including the internationally recognised Tswana way of life. As Botswana looks to the future, it is embracing economic diversification, investment, innovation, renewable energy and sustainable tourism, creating new opportunities for both local and international partners. Sixty years on, Botswana stands proud as a nation of peace, natural beauty, valuable resources and opportunity—building on its remarkable past while confidently shaping a prosperous future.

About De Beers Group

Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group’s strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers London and Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services and a wide range of diamond sorting, detection and classification technology services. De Beers Group is committed to ‘Building Forever,’ a holistic and integrated approach to sustainability that underpins our efforts to create meaningful impact for the people and places where our diamonds are discovered. Building Forever focuses on three key areas where, through collaborations and partnerships around the globe, we have an enhanced ability to drive positive impact; Livelihoods, Climate and Nature. De Beers Group is a member of the Anglo American plc group. For further information, visit www.debeersgroup.com.

About the Diamonds for Development Fund

The Diamonds for Development Fund is a transformational fund established through a partnership between the Government of the Republic of Botswana and De Beers Group to support Botswana’s economic growth and diversification. Independently governed and seeded with an initial P1 billion contribution from De Beers, the Diamonds for Development Fund is being developed as a catalytic investment platform that will help unlock larger pools of domestic, private, institutional and international capital. Its vision is to help transform Botswana’s diamond wealth into diversified, productive and sustainable resources that advance national development and create lasting prosperity for Batswana.